If you’re like me, you’re not only the mom of the house, you’re also the accountant. And if you’re the accountant, you’re well aware of the high cost of health care and health insurance. It’s an unavoidable part of life, but just because it’s expensive, that doesn’t mean you can’t save money on it. Below are six ways to do exactly that.
THE EMERGENCY ROOM IS FOR EMERGENCIES ONLY – Every illness and injury might seem like an emergency, but knowing the difference between an emergency and a non-emergency can save you plenty of time and money. Many minor injuries and other ailments can be fixed with a trip to your local urgent care center or a trip to a convenience care clinic at CVS.
APPEAL DENIED INSURANCE CLAIMS – Insurance companies are notorious for trying to wiggle their way out of paying for various things. If they deny payment on a service you think they should pay for, give them a call and get some answers. If that doesn’t work, it might be time to file an appeal.
CHECK YOUR BILLS FOR ERRORS – As many as one half of all healthcare bills contain errors that could end up costing you more than your fair share. For that reason, review all bills carefully. If you find an error, contact your healthcare provider and/or insurance company and get it fixed.
GET INSURANCE! – Imagine driving your car without insurance or owning a home without insurance. Besides being illegal (in the case of the car) or a violation of your mortgage (for your home), it’s also incredibly risky. The same is true of health insurance. Yes, you might be healthy and strong now, but you can’t predict illness or accidents. And all it takes is one trip to the hospital to set you back $10,000 or more. Suddenly that health insurance isn’t such a bad investment, isn’t it?
DO YOUR HOMEWORK WHEN SHOPPING FOR A HEALTHCARE PLAN – You wouldn’t skip the research when shopping for a car or any other high cost item, so don’t skip the research when shopping for a healthcare plan. Not only will that research help you get the best rate (which saves you money), it’ll also help you get the best health coverage for your family.
HIGH DEDUCTIBLE, LOWER RATES – Like any insurance plan, the higher your deductible is, the lower your premiums will be. Here’s the catch: You’ll have a higher deductible (obviously), but if you don’t visit the doctor that often, it might be worth it in the long run.